Tata Steel informed that the Port Talbot blast furnaces in the UK will be closed and 2,800 employees will be dismissed. The hot strip mill will continue to operate during the mentioned transition period, but steel raw materials will be imported from Tata Steel facilities in the Netherlands and India, according to the company.
First blast furnace will be shut down in mid-2024 and the second facility as well as the coke ovens will be shut down by the end of the year. Additionally, a new electric arc furnace is scheduled to be commissioned in 2027.
Around 2,500 jobs will be cut over the next 18 months and the remaining 300 over the next three years.
The company's proposal to invest in a new electric arc furnace, which is predominantly used to process scrap produced in the UK, indicates that it can compete by successfully building low-carbon production facilities. Tata Steel emphasizes that these facilities reduce emissions while producing high quality steel.
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